THINKING ABOUT BUYING AN INVESTMENT PROPERTY OR SECOND HOME?

Whether you’re looking for paradise or profit, we can help.

 

Smart Investment Matters

We’ll evaluate your short-term needs and long-term goals

 There are many things to consider before diving into having two mortgage payments. For starters, you want to make sure you can qualify for another mortgage loan. A second home buyer has to carry the entire new mortgage payment without the benefit of rental income. If you are buying an investment property you can generally use 75% of the current or expected rental income to help you qualify. Also, you will need to be able make a down payment of at least 10-25% of the home’s cost (10% minimum for second homes and 25% for investment properties) and come up

with some significant closing expenses as the property transfer tax for second homes and investment properties is higher than for primary residences.

If you’re considering purchasing an investment property or second home, make sure to talk to a qualified mortgage professional to better understand the options and avoid the potential pitfalls. No matter what you’re looking for, we’ll evaluate your short-term needs and long-term goals to find the perfect fit for your individual situation.

All loans are subject to credit and property approval. Other restrictions and limitations may apply.

The right way to cancel a credit card

So, you want to cancel a credit card. Whether you should do so and how to complete the task isn’t always so simple, though. Canceling a card requires more than just cutting it up, and retiring that piece of plastic can be either a wise financial move or an unnecessary...

read more

The benefits of a shorter mortgage term

With mortgage rates having risen over the past year, more mortgage borrowers are exploring ways to reduce their interest costs. One of these options are shorter-term loans – loans that are schedule to be repaid in less time. While 30-year mortgages are most popular,...

read more

Is the housing boom over?

For more than two years, the U.S. real estate market has been booming. Home values have increased at a record rate, properties have sold fast and buying a home in many parts of the country has become a challenge. Now, sales of existing homes are falling, price...

read more

Awards & Recognition: